Sewing Machines Market Trends, Revenue, Major Players, Share Analysis & Forecast Till 2030
Sewing Machines Market Overview
Sewing Machines Market Size is projected to reach USD 7.40 Billion by 2030 at a CAGR of 5.60% over the review period.
Market Dynamics
Because of raising product recognition and the growing do-it-yourself (DIY) trend, the global sewing machines market has expanded significantly in recent years. Portable sewing machines have also been introduced by market players. Consumers can now sew at home with ease thanks to the availability of high-tech machines. In the sewing machine industry, customers are searching for solutions that emphasize reliability and ease of use. Consumers in developing countries such as China, India, and Brazil have been able to spend more on appliances as their per capita disposable incomes have increased, boosting the size of the sewing machines industry.
The increased visibility of various sewing machine brands on social media sites has resulted in increased product awareness. The use of social media sites such as Instagram, Twitter, and Facebook to promote and support goods is on the rise. Furthermore, the increasing shelf space available in retail stores for these items is increasing market awareness. Sewing machine sales are being driven by these factors all over the world. The rapid growth of social media channels over the past few years has given industry players the ability to promote their goods, which has boosted market growth. In addition, the development of the organized retail sector in developed countries is propelling the sewing machine market forward.
Segmental Analysis
By product type, the market has been segmented into mechanical, electronic, and smart sewing machines. Electronic sewing machines account for the majority of the industry. Mechanical sewing machines do not have as many features as these types of sewing machines. Electronic sewing machine sales are growing as the number of tailoring shops grows. At the same time, today's mechanical sewing machines have a few innovative features, such as small LED displays for stitch pattern selection. These sewing machines are simple to use in contrast to other sewing machines since they do not need any sewing experience. These factors are propelling the segment forward.
By end-use, the market has been divided into household and commercial, wherein the commercial segment dominates the market. The segment's growth is expected to be fueled by an increasing commercial sector and an increase in the number of tailoring shops. The rising popularity of the do-it-yourself trend, on the other hand, is expected to boost household sewing machine sales. Furthermore, domestic sewing machines are less costly than industrial sewing machines. In addition, hobbyists' adoption of sewing machines is expected to fuel the segment's growth over the forecast period.
Consumers who choose to buy sewing machines tend to shop at supermarkets and hypermarkets. They will try out items and choose from a variety of choices. Owing to their extensive network and availability of sewing machines in a variety of sizes, styles, colors, and labels, consumers are increasingly shopping at supermarkets and hypermarkets such as Walmart, Tesco, and Target. Consumers are becoming more familiar with e-commerce sites as a result of the convenience of shopping from home and the variety of options available.
Regional Analysis
For sewing machines, North America is a lucrative market. The region's sewing machine demand is expected to be boosted by the region's developed apparel industry, as well as rising regional and local manufacturers.
Europe accounted for the largest share of the global sewing machine market in 2018. The market for high-tech sewing machines is being boosted by the presence of a well-established fashion industry in key countries in the region with a large number of apparel manufacturers. Product innovation is a major driver of regional market development. Manufacturers are using cutting-edge technology to improve sewing machine functionality.
The demand in Asia-Pacific is expected to develop at the fastest rate during the forecast period, according to the MRFR sewing machine market report. The area provides a new revenue stream for sewing machine manufacturers.
The expansion of the commercial sector, as well as increased customer awareness of the various types of sewing machines, are expected to boost market growth in the area.
Competitive Analysis
Sewing machine markets are highly fragmented, with a number of global players catering to the growing demand for different types of sewing machines. Because of the growing demand for high-tech appliances around the world, manufacturers are focusing on product innovation. In addition, companies in the global sewing machine industry are extending their business into new territories. The notable players are Aisin Seiki Co., Ltd. (Japan), Brother International Corporation (US), Bernina International AG (Switzerland), Merrow Inc. (US), Jack Sewing Machine Co., Ltd. (China), Pegasus Sewing Machine Mfg. Co., Ltd. (Japan), Usha International Limited (India), SEIKO Sewing Machine Co., Ltd. (Japan), SVP Holdings Ltd. (US), Rimoldi & CF srl (Italy), China Feiyue USA Inc. (US), Kaulin Manufacturing Co., Ltd. (Taiwan), Janome Sewing Machine Co., Ltd. (Japan), Tacony Corporation (US), and Juki Corporation (Japan) among others.
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